Dogtas Kelebek Mobilya Sanayi ve Ticaret AS said its normalized net income for the first quarter came to a loss of 2 kurus per share, compared with a loss of 6 kurus per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.5 million lira, compared with a loss of 11.6 million lira in the year-earlier period.

The normalized profit margin increased to negative 4.1% from negative 14.7% in the year-earlier period.

Total revenue increased 6.6% year over year to 83.8 million lira from 78.6 million lira, and total operating expenses climbed 9.6% from the prior-year period to 81.0 million lira from 73.9 million lira.

Reported net income totaled a loss of 4.7 million lira, or a loss of 2 kurus per share, compared to a loss of 14.9 million lira, or a loss of 7 kurus per share, in the year-earlier period.

As of May 10, US$1 was equivalent to 2.94 Turkish lira.